Sweden's Ingvar Kamprad, founder of furniture chain Ikea, remains Switzerland richest resident for the tenth year running, according to an annual ranking by business magazine Bilanz.  

"/> Sweden's Ingvar Kamprad, founder of furniture chain Ikea, remains Switzerland richest resident for the tenth year running, according to an annual ranking by business magazine Bilanz.  

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Ikea founder Kamprad tops Swiss rich list

Sweden's Ingvar Kamprad, founder of furniture chain Ikea, remains Switzerland richest resident for the tenth year running, according to an annual ranking by business magazine Bilanz.  

Ikea founder Kamprad tops Swiss rich list
Hasse Karlsson (File)

With assets valued at 35-36 billion francs ($38-39 billion), Kamprad’s flatpack fortune puts him way out on top of the list of the country’s 300 wealthiest people and families.

The accumulated wealth of the 300 richest people in Switzerland amounts to 481 billion francs ($525 billion), a figure that would more than suffice to pay off Greece’s rampant debt. The most recent BIS Quarterly Review put the Greek debt at $485 billion.

Coming in a distant second are the Swiss Hoffmann and Oeri families, who control the pharmaceutical company Roche and have combined assets worth 13-14 billion francs ($14-15 billion).

In third place is the German-Dutch Brenninkmeijer family, which owes its 12-13 billion franc ($13-14 billion) fortune mainly to the clothing company C&A, but also to its real estate business and investments in energy firms.

This year, 16 new people edged their way onto the exclusive Bilanz list, an honour reserved only for those with a net worth of at least 100 million francs.

Together the newcomers account for a total of 26.1 billion francs ($28.4 billion), the magazine reports.

Only two of the new  entrants are Swiss, with the rest attracted by the relative stability of the Swiss currency and economy as well as the country’s favourable tax regime. In all, half of the people in the ranking hail from countries outside Switzerland.

In terms of the distribution of this enormous wealth, three percent of the 300 people on the list account for 25 percent of the total 481 billion ($525 billion) francs.

The total amount amassed by the 300 richest people residing in Switzerland is 11 billion francs higher than in 2010.

Only the United States currently has more billionaires than Switzerland, Bilanz reports, with every tenth billionaire in the world happy to call the Alpine nation home.

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Germany takes third spot in global ranking of ‘ultra-rich’ people

Germany has snagged third place in a ranking showing the ultra rich of the world, while the number of millionaires has also gone up despite the pandemic.

Germany takes third spot in global ranking of ‘ultra-rich’ people
The number of rich is growing despite the pandemic. Photo: picture alliance / dpa | Jens Kalaene

The year 2020 caused financial stress for many people across the world. But some people – including in Germany – actually got richer. 

Overall across the world, the number of individuals with a financial wealth of over 100 million US dollars (€82.25 million) grew by 6,000 during the coronavirus pandemic year 2020, according to the Global Wealth 2021 report by the Boston Consulting Group (BCG).

Currently a record 60,000 people belong to the ultra-rich club. These individuals own 15 percent of the world’s investable assets, according to the report.

Germany came in at third place on global rankings, with around 2,900 of these “ultra-high net worth individuals,”.  The US is at the top with about 20,600 people with a wealth of over 100 million dollars, followed by China with 7,800.

READ ALSO: Who belongs to the top 10 percent of earners in Germany?

What about private wealth?

People around the globe accumulated more wealth than ever before in the coronavirus crisis year 2020.

Private financial assets rose by eight percent year-on-year to a record 250 trillion US dollars (around €205 trillion), according to the analysis.

Rising stock market prices and growing savings contributed to this. For the first time, BCG also took into account tangible assets such as real estate or gold. Total wealth thus amounted to 431 trillion dollars.

In Germany, private financial assets, including cash, account balances, shares, pensions and life insurance policies, rose by around six percent to approximately nine trillion dollars, according to the data. Tangible assets increased by five percent to 13 trillion dollars.

“Germans traditionally invest in real estate,” said BCG partner and report author Anna Zakrewski.  This is clearly shown by the real asset ratio of just under 60 percent, she said.

“At the same time, investors in Germany are saving at an above-average rate.”

Many people have been holding on to their money during the crisis, Zakrewski said, adding that temporary closures in the retail sector and travel restrictions were also putting the brakes on spending.

READ ALSO: How and why Germany’s super-rich list is growing

The number of dollar millionaires in Germany increased by 35,000 to 542,000 in 2020, according to the report. 

The consulting firm said the increase could partly be attributed to the development of the euro exchange rate, which rose against the dollar. This had a noticeable effect on the conversion to the US currency.

Across the globe, 26.6 million people own financial assets of one million dollars or more – up by 1.8 million from the previous pre-Covid year.

The US led the global wealth ranking overall with 136 trillion dollars, followed by Asia excluding Japan (111.9 trillion) and Western Europe (103 trillion). In view of the expected economic recovery after the crisis, BCG believes global private wealth will grow steadily in the coming years.

READ ALSO: This is how many millionaires live in Germany

Who are the richest people in Germany?

As heirs to Aldi Süd, they became billionaires: Beate Heister and Karl Albrecht Junior are currently the richest people in Germany, with assets of 39.2 billion US dollars, according to Forbes.

In second place of the richest Germans is Dieter Schwarz, owner of the Schwarz Group, which Lidl and Kaufland belong ($36.9 billion) to. Theo Albrecht, the co-owner of Aldi Nord, is also in the top seven, with assets of $18.8 billion.

Internationally, however, another (super) market founder is leading: with 177 billion US dollars, Amazon founder Jeff Bezos is currently considered the wealthiest person in the world.

Graph translated by Statista for The Local Germany